How To Become A Successful Buyer!
Becoming a successful buyer (especially if this is first time) can be a roadmap that is full of obstacles or one that is relatively drama-free. More than likely, the experience is more likely a mix bag with the biggest challenge of avoiding going over the edge. With the help of an experienced real estate agent and a mortgage lender who has your best interest, the results can be a happy buyer.
When approached by a first-time buyer or even a buyer who has purchased other homes, my first step is to make certain that they have been pre-approved for a loan. Knowing the dollar amount of a loan that you can obtain avoids the mistakes of having expectations that aren't realistic. On the other hand, you may find that you are able to buy more home than you thought. Normally, I suggest that when looking for a lender to obtain a pre-approval that several lenders be contacted. In that way, you will be able to compare the offerings of more than one lender...and yes, they do vary. Plus, a lender might have a recommendation for a loan package that is to the advantage of the potential buyer. Bottom line..shop your strength.
One source of information that will help unravel the maze of the loan process is located at Realtor.com. This is an excellent resource that provides tools that will help the potential buyer navigate the process of obtaining a line. Click on http://www.realtor.com/mortgage/.
First Time Buyers or Need a Refresher Course
There is no question that whether you have purchased other homes or if this is your first venture in becoming a home buyer, the process can be joyful, frustrating, aggravating, or a combination of any these experiences. When potential homes buyers come to me, I always give them a manual that Coldwell Banker Gundaker has provided. Does it answer all of your questions, of course not. But, it is a good start.
Looking forward to assisting you is a responsibility that I take very seriously as you are making a major financial decision.